The Analytical Overview of the Main Currency Pairs on 2017.05.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.12185
  • Open: 1.12097
  • % chg. for the last day: -0.07
  • Day's range: 1.11837 - 1.12192
  • 52 wk range: 1.0366 - 1.1616

Since the beginning of this week, EUR/USD is in a sideway movement. A unidirectional trend is not observed. The currency tests key support and resistance levels: 1.11600 and 1.12600, respectively. The market is waiting for additional drivers. Today, economic reports from the United States are at the center of attention.

There are no important statistical data on the EU economy today. We recommend you to pay attention to the news line from the USA:
  • – the basic orders for durable goods (15:30 GMT+3:00);
  • – data on the country's GDP (15:30 GMT+3:00);
  • – indices of consumer' expectations and sentiments from the University of Michigan (17:00 GMT+3:00).
Прогноз по валютной паре EUR/USD

Indicators signal the strength of buyers. The price has fixed above 50 MA and 200 MA.

The MACD histogram has begun to rise and is above the signal line, which indicates the growth of EUR/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which also gives a signal to buy EUR/USD.

Trading recommendations
  • Support levels: 1.11600, 1.11000
  • Resistance levels: 1.12600

If the statistics from the US are positive, a correction to the 1.11500-1.11250 mark may develop on the EUR/USD currency pair.

An alternative may be the growth of the EUR/USD quotations to the round level of 1.13000.

When tracking a position, one should use a trailing stop.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.29700
  • Open: 1.29395
  • % chg. for the last day: -0.26
  • Day's range: 1.28599 - 1.29469
  • 52 wk range: 1.1986 - 1.5020

At the moment, the bearish sentiment prevails on GBP/USD. In the Asian trading session, the pound lost more than 70 points in price. The currency found support at 1.28600. The round level of 1.29000 is already a "mirror" resistance. We are waiting for statistics from the USA.

The news background on the UK economy is calm today.

Прогноз по валютной паре GBP/USD

The price is located below 50 MA and 200 MA, which indicates the strength of sellers.

The MACD histogram has fixed in the negative zone and below the signal line, which signals a further drop in GBP/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which indicates a correction on GBP/USD.

Trading recommendations
  • Support levels: 1.28600
  • Resistance levels: 1.29000, 1.29300

If economic reports from the US are positive, the downward trend in GBP/USD may continue. The target level of movement is the round level of 1.28000.

An alternative option may be the growth of GBP/USD to the level of 1.29300.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.34058
  • Open: 1.34824
  • % chg. for the last day: +0.57
  • Day's range: 1.34555 - 1.34974
  • 52 wk range: 1.2458 - 1.4692

Yesterday correction was observed on USD/CAD. The Canadian dollar weakened against the US dollar by more than 80 points. This is due to a sharp drop in quotations of "black gold" (- 4.79% oil WTI). At the moment, the key trading range is 1.34600-1.35350.

The publication of important economic reports from Canada today is not planned.

Прогноз по валютной паре USD/CAD

Indicators do not send accurate signals. The price is between 50 MA and 200 MA.

The MACD histogram is located in the positive area, but below the signal line, which gives a weak signal to buy USD/CAD.

Stochastic Oscillator has reached the oversold zone, the %K is below the %D line, which gives a weak signal to sell USD/CAD.

Trading recommendations
  • Support levels: 1.34600, 1.33900
  • Resistance levels: 1.35350, 1.36000

We recommend opening positions from key levels.

If the price consolidates below the support level of 1.34600, you need to look for entry points to the market to open short positions. The immediate goal for profit taking is 1.34000.

Alternative option. If USD/CAD overcomes the resistance level of 1.35350, the correction of the Canadian dollar may continue. The movement is tending potentially to 1.35500-1.36000.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 111.479
  • Open: 111.825
  • % chg. for the last day: +0.30
  • Day's range: 111.071 - 111.848
  • 52 wk range: 99.08 - 123.69

Sales prevail on the USD/JPY currency pair. At the moment, the yen added more than 70 points. The currency overcame the mark of 111.500, which is a "mirror" resistance. The nearest support is at 110.900. The currency of Japan is supported by optimistic data on inflation in the country.

It is necessary to pay attention to the news background on the US economy.

Прогноз по валютной паре USD/JPY

The price has fixed below 50 MA and 200 MA, which indicates the bearish sentiment on USD/JPY.

The MACD histogram has begun to decline and moved to the negative zone, which signals a further drop in USD/JPY.

Stochastic Oscillator is located in the oversold zone, the %K line crossed the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 110.900, 110.300
  • Resistance levels: 111.500

We recommend looking for entry points to the market in order to open short positions. The movement is tending potentially to the support level of 110.300. When tracking a position, one should use a trailing stop.

We recommend you to get acquainted with the daily overview of the news feed.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.